Recently, traders have been long on Bitcoin, Ethereum, and Sol, with accumulated unrealized losses exceeding $30 million. Two days ago, they also increased their Sol long positions with 20x leverage, indicating that market participants still have a relatively firm expectation of a rebound.

From a technical perspective, on December 26th, Bitcoin derivatives worth approximately $20 billion will be settled. The maximum pain point for options in this settlement is at $94,000. Based on the current Bitcoin price, this level is more favorable to the bulls. Both bulls and bears will compete around this price, and the market may be attracted to move toward this level. The upcoming trend is worth watching.